Comprehensive Renewable Life Insurance, But Not The Cheapest
Written: Mar 29 '07
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Pros: Excellent Customer Service, Easy Application Process Made Very Convenient, Good Advice from Reps.
Cons: Pricier Than Other Offerings, Life Insurance Entity Different than Investments Company
The Bottom Line: I highly recommend Fidelity Investments Life Insurance 'cause of their excellent customer service, financial planning wisdom, and reputation.
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| lilviv's Full Review: Fidelity Investments Insurance - Life |
Before I begin, I must say that I am a big fan of Fidelity Investments, in general. I keep the bulk of my personal assets at this company and have enjoyed the treatment I received when I had as little as $3K with them . . . and continued to enjoy the treatment as the relationship grew with my asset base. Their fund offerings (and terms like no load/commission trading of their funds), service levels, supplemental feature offerings (like AMEX cards, etc.), and account options are just incredible and vast. They can literally manage your entire financial life, and they do so very well . . . whether managed or unmanaged funds. Their customer service is simply top notch.
When I turned 25, I found myself engaged and starting to think about "grown-up" stuff like life insurance. Was this necessary for me? If so, what kind? One day when I was heading into a Fidelity Investments branch, a CFP (Certified Financial Planner) helped me through this decision.
With life insurance, you have multiple options . . . but the basic options are Term Life Insurance and Cash-Value Building Life Insurance. I chose Term Life Insurance because I wanted to protect my family from unforeseen misfortune only during the next 20 or so years. If I live (knock on wood, since that would only put me at 45 yrs. old) through that 20 years, I would assume I have enough of an asset base that my family would be fine without insurance. So, the Term policy was best for me, I did not need the Cash Value Style Life insurance to be building retirement assets for me or my family.
Fidelity was very thorough . . . I filled out an application, and then they started with a verbal phone interview to ensure that I would not skydive onto a motorcycle while smoking cigarettes and injecting heroin. Finally, they needed medical statistics on me. They were kind enough to come to my office and take my blood/urine there! This was very convenient.
Long story short, I got over $1M in life insurance, guaranteed over 20 years, for just a hair over $540 per year. I realize that this is not as cheap as it gets, but I would gladly pay a premium to have the Fidelity Investments name and customer service behind my policy.
I have had to change beneficiaries one time, and they made this process very easy, too. They mailed me the form, and I simply sent it back. They let me divide percentages out, as well, no extra charges or anything. The customer service has been fantastic.
Thankfully, I haven't had any experience making a claim, just yet. ;) So, I can't speak to the claims process.
Recommended:
Yes
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Epinions.com ID:
lilviv
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Location: Carrollton, TX, USA
Reviews written: 27
Trusted by: 3 members
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